Brokerages Set NNN REIT, Inc. (NYSE:NNN) Price Target at $46.29

NNN REIT, Inc. (NYSE:NNN) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $46.29.

A number of research firms have weighed in on NNN. Wells Fargo & Company reiterated an “equal weight” rating and issued a $50.00 target price (up previously from $47.00) on shares of NNN REIT in a research note on Tuesday, October 1st. BNP Paribas lowered shares of NNN REIT from a “neutral” rating to an “underperform” rating and set a $44.00 price objective for the company. in a report on Monday, November 4th. B. Riley boosted their price target on NNN REIT from $42.50 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. StockNews.com lowered NNN REIT from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Robert W. Baird lifted their price objective on NNN REIT from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, November 4th.

Institutional Investors Weigh In On NNN REIT

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. LRI Investments LLC acquired a new stake in shares of NNN REIT in the 1st quarter worth $69,000. Pathway Financial Advisers LLC purchased a new stake in shares of NNN REIT during the first quarter worth about $184,000. GAMMA Investing LLC increased its holdings in shares of NNN REIT by 93.2% during the second quarter. GAMMA Investing LLC now owns 2,328 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 1,123 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of NNN REIT in the 2nd quarter valued at approximately $59,000. Finally, Bruce G. Allen Investments LLC grew its position in NNN REIT by 1,276.8% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,129 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,047 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

NNN REIT Stock Down 0.1 %

Shares of NYSE NNN opened at $43.66 on Monday. The company has a market cap of $8.19 billion, a P/E ratio of 20.21, a PEG ratio of 2.21 and a beta of 1.10. The firm has a 50-day simple moving average of $46.22 and a two-hundred day simple moving average of $44.96. NNN REIT has a 1 year low of $38.88 and a 1 year high of $49.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.85 and a quick ratio of 2.85.

NNN REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend was Thursday, October 31st. NNN REIT’s payout ratio is currently 107.41%.

About NNN REIT

NNN REIT invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2023, the company owned 3,532 properties in 49 states with a gross leasable area of approximately 36.0 million square feet and a weighted average remaining lease term of 10.1 years.